Oman’s $75M Agro-Chemicals Investment in Tashkent: What It Means for Regional Business Opportunities
Muscat: The Uzbek-Oman Investment Company (UzOman), a joint investment fund founded by the sovereign wealth funds of Oman and Uzbekistan, has announced the signing of agreements to launch a cutting-edge agro-chemicals project in Tashkent, Uzbekistan’s capital. The project entails an investment of approximately $75 million.
This venture will specialise in manufacturing advanced agricultural inputs, aiming to modernise Uzbekistan’s agricultural sector while supporting Oman’s strategic food security objectives. For Uzbekistan, the project is expected to reduce reliance on imported farm inputs. For Oman, it will establish Uzbekistan as a new source of fruits and vegetables, enhancing the diversification, reliability, and resilience of its food supply chains.
A key partner in this initiative is Türkiye’s leading agricultural inputs company, Hektaş Ticaret TAS, which will invest around $50 million as the project’s strategic and operating partner. UzOman will participate as the minority equity partner, contributing the remaining $25 million.
UzOman welcomed the trilateral partnership, stating: “This project marks a continuation and strengthening of the long-standing collaboration between the Oman Investment Authority and Ordu Yardımlaşma Kurumu (OYAK), Türkiye’s largest complementary pension fund and majority shareholder of Hektaş, reflecting a shared vision to promote industrial development, regional integration, and sustainable long-term value creation.”
The manufacturing plant will be developed within the Uzbek-Turkish industrial cluster in Tashkent and is projected to be commercially operational by 2027. It will produce locally advanced agricultural inputs such as crop protection products — including herbicides, insecticides, and fungicides — alongside organo-mineral fertilisers designed to improve soil health and farm productivity. The facility will incorporate modern production and packaging lines, quality control laboratories, and environmentally compliant systems that adhere to international standards.
This announcement expands UzOman’s investment portfolio, which has grown to an impressive $280 million in assets under management (AUM) by the end of 2024.
Founded in 2010 as a joint venture between the Oman Investment Authority (OIA), holding a 75% stake, and the Uzbekistan Fund for Reconstruction and Development, with a 25% stake, UzOman stands as a leading investment company in Central Asia. Initially established with committed capital of $500 million, UzOman currently has a paid-up capital of $200 million.
UzOman’s investments span strategic, high-growth sectors including Shopping Malls (43%), Business Centres (19%), Logistics Terminals (18%), Financial Assets (12%), and Hospitality, Education, and Industrial Assets (4% each).
Recent key transactions include the sale of UzOman’s shares in Metall Konstruksiyalari (BMK), Uzbekistan’s largest galvanising plant. Additionally, UzOman became a shareholder in the Highway Logistics Centre — the country’s premier dry port for truck logistics — and expanded its real estate holdings by acquiring a top-tier business centre within the Business Park Complex.
The new agro-chemicals project not only supports the modernisation of Uzbekistan’s agricultural sector but also indirectly advances Oman’s goals for food security.
Special Analysis by Omanet | Navigate Oman’s Market
The $75 million agro-chemicals project in Uzbekistan, backed by a trilateral partnership including Oman’s sovereign wealth fund, signifies a strategic move to bolster Oman’s food security through diversified, resilient supply chains. For businesses, this creates opportunities to integrate into emerging regional agri-industrial value chains, while investors should watch for growth in sustainable agricultural technologies and cross-border collaborations. Smart entrepreneurs would do well to explore synergies in advanced agro-inputs and logistics, as Oman-Uzbekistan-Turkey ties deepen industrial and regional integration.
